Milan, 26 October 2015 – It is announced that, today - pursuant to the agreements following the acquisition of Edipower on 24 May 2012, the extraordinary shareholders’ meetings of Edipower and Cellina Energy, company entirely owned by Società Elettrica Altoatesina S.p.A., approved the nonproportional demerger of Edipower.
The transaction foresees the assignment to Cellina Energy of a compendium comprising hydroelectric plants owned by Edipower, comprehensive of the plants’ personnel as well as assets and liabilities.
The transaction is based on a framework agreement – signed today – aimed at regulating assumptions, terms and conditions, as well as the relative timeframes, for the exit from Edipower S.p.A. share capital of Società Elettrica Altoatesina as well as the financial partners Banca Popolare di Milano S.c.a.r.l., Fondazione Cassa di Risparmio di Torino and Mediobanca - Banca di Credito Finanziario S.p.A..
The operation will become effective as soon as the terms of law have expired and the requirements necessary for the signing of the demerger have been fulfilled, in the first quarter of 2016, and provides for an adjustment mechanism, based on the balance sheet of the compendium as of the demerger’s effective date.
Following the operation, the share capital of Edipower will be entirely owned by A2A S.p.A. For Edipower this will ensure a determining recovery in terms of competitiveness and significant management streamlining, along with an integration and improvement in the efficiency of the combined-cycle plants for the entire A2A Group, an indispensable assumption for the generation of synergies and value in a sector suffering at present such as the gas generation sector.
Contacts
Media Relations
Tel. +39-02 7720.4582 - ufficiostampa@a2a.eu
Investor Relations
Tel. +39-02 7720.3974 – ir@a2a.eu
Public disclosure obligations provided by Consob Resolution no. 11971 of 14 May 1999 and subsequent modifications.
